Data Dictionary
Item Number B569
DOES THE REPORTING BANK SELL PRIVATE LABEL OR THIRD PARTY MUTUAL FUNDS AND ANNUITIES? YES/NOCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| BHCKB569 | 2001-03-31 | 9999-12-31 | No | FR Y-9C |
| RCFDB569 | 2001-03-31 | 9999-12-31 | No | FFIEC 031 |
| RCONB569 | 2001-03-31 | 9999-12-31 | No | FFIEC 041 |
| RCONB569 | 2001-03-31 | 9999-12-31 | No | FFIEC 051 |
Data Description:
Indicate whether the reporting bank currently sells private label or third party mutual funds and annuities. Place an "X" in the box marked "YES" if the bank, a bank subsidiary or other bank affiliate, or an unaffiliated entity sells private label or third party mutual funds and annuities:
(1) on bank premises;
(2) from which the bank receives income at the time of the sale or over the duration of the account (e.g., annual fees, Rule 12b-1 fees or "trailer fees," and redemption fees); or
(3) through the reporting bank's trust department in transactions that are not executed in a fiduciary capacity (e.g., trustee, executor, administrator, and conservator).
Otherwise, place an "X" in the box marked "NO".
Mutual fund is the common name for an open-end investment company whose shares are sold to the investing public. An annuity is an investment product, typically underwritten by an insurance company, that pays either a fixed or variable payment stream over a specified period of time. Both proprietary and private label mutual funds and annuities are established in order to be marketed primarily to a bank's or banking organization's customers. A proprietary product is a product for which the reporting bank or a subsidiary or other affiliate of the reporting bank acts as investment adviser and may perform additional support services. In a private label product, an unaffiliated entity acts as the investment adviser. The identity of the investment adviser is normally disclosed in the prospectus for a mutual fund or annuity. Mutual funds and annuities that are not proprietary or private label products are considered third party products. For example, third party mutual funds and annuities include products that are widely marketed by numerous parties to the investing public and have investment advisers that are not affiliated with the reporting bank.
For series "BHCK" enter "1" for Yes; enter "0" for No.
COMPARABILITY:
Beginning 3/31/01, for series BHCK, reported on Schedule HC-M.
NOTE:
Reported on Schedule RC-M Memoranda for the FFIEC 031 and 041 reports.